A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,593,600 3,514,000 2,079,600 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,360,000 Cost of goods sold 4,670,000 Gross margin 2,690,000 Selling and administrative expenses: Selling expenses 1,373,000 Administrative expenses 705,500 Total expenses 2,078,500 Net operating income 611,500 Interest expense 102,000 Net income before taxes $ 509.500 1,078,000 616.500 1,694,500 385,100 91,000 $ 294,100 Members of the company's board of directors are surprised to see that net income increased by only $215,400 when sales increased by $1,766,400. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i... 0.1234 should be entered as 12.3).) This Year Last Year % 0.01% 0.0 % % Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes 0.01% 0.01% % 0.01% 0.01% 0.0 % 00%